A well-developed performance management system is an essential talent management tool for high-performing organizations. This discipline covers the aspects of creating a high performance culture which enables an organization to sustain competitive strategic advantage and exceed the expectations of all stakeholders. It provides techniques for creating an effective performance management system that clearly defines expectations, helps align employee behavior with business needs and organizational culture, while bringing visible value addition to the organization. In addition, this discipline delineates performance assessment methodology, balance scorecard, and employee performance review mechanisms including performance review formats, assessment processes and techniques as also performance tracking.
Performance Management delves further into the actions that need to be taken as a direct consequence of a performance review, especially performance coaching, recognition and managing poor performance, which includes the exit of poor performers. However, this discipline does not cover training and development which has been assigned to the Learning and Development discipline. Other outcomes of performance reviews, which include compensation, reward, promotion and incentives, come under the discipline of Compensation and Reward.
Follow